Saxo Bank Reports 287% Profit Surge, Net Profit Exceeds DKK 1 Billion in 2024

Saxo Bank reported record-breaking financial results for 2024, achieving a net profit of DKK 1,005 million ($141 million), a remarkable increase of 287% from the previous year. This growth was attributed to the bank's new global pricing strategy, which involved reducing client fees and enhancing the value offered through its trading and investment platforms. By the end of 2024, Saxo Bank's client base reached nearly 1.3 million, with total client assets hitting an all-time high of DKK 853 billion. CEO Kim Fournais expressed pride in the bank's achievements and emphasized the importance of innovative initiatives like the AutoInvest tool and expanded market access for investor platforms. Despite the successful year, the bank's capital ratio slightly declined to 29%. Looking ahead, Saxo Bank remains committed to client acquisition and improving its product offerings.